DORA & NIS2: The Cybersecurity Regulation Revolution

Razorwire Cyber Security

Are you ready for DORA and NIS2? Discover how these regulations could transform your security strategy!

Welcome back to another episode of Razorwire! Today we unpack the DORA and NIS2 regulations with esteemed cybersecurity expert Richard Cassidy. I’m your host, Jim Rees, and I’ll be guiding the conversation for anyone navigating the evolving landscape of digital security in the financial sector.

In this information-packed episode:

• Discover why organisations are dangerously behind in DORA and NIS2 preparation
• Learn how these EU regulations could impact global operations, including US companies
• Explore the potential for hefty fines and personal liability for executives
• Understand the critical role of third party providers in compliance
• Get practical advice on assessing your organisation's readiness
• Uncover the challenges of implementing cross border information sharing
• Gain insights on budget planning and vendor alignment for compliance

Whether you're a CISO, IT professional or business leader, this episode offers crucial information to help you stay ahead of regulatory changes. Don't miss Richard's expert analysis and insider tips on preparing effectively for compliance. This episode is packed with invaluable insights you won't want to miss.

" Don't be looking at this, head in your hands and worry that you haven't got the stack. You most likely do have the capabilities. Now you've just got to understand how you go about aligning to DORA."

Richard Cassidy

Listen to this episode on your favourite podcasting platform: https://razorwire.captivate.fm/listen

In this episode, we covered the following topics:

• Regulatory Gap Analysis: Why organisations should start by analysing gaps between current performance and DORA and NIS2 regulations.
• Vendor Involvement: Why it’s essential to involve vendors and ensure they align with new regulations.
• Global Impact: Learn how DORA and NIS2 will impact organisations worldwide, especially those within the EU financial industry.
• Budget Implications: Advice on beginning regulatory analysis before budget renewal, for better allocation of resources.
• Contract Renegotiation: How to navigate the lengthy process and challenges of renegotiating contracts for compliance with new regulations.
• Third Party Security: Why we need to include audit rights and fine clauses in contracts with third party service providers.
• C-suite Accountability: Learn about the personal responsibility of the c-suite under DORA, including potential legal consequences.
• CISO Role Evolution: Find out how the CISO role is likely to gain more prominence and may replace the CIO in the future.
• Information Sharing Challenges: We discuss the difficulties organisations might face in sharing cybersecurity information.
• Implementation Recommendations: How to implement a simplified approach to aligning with DORA by assessing maturity and targeting domain-level improvements.

Resources Mentioned

• DORA (Digital Operational Resilience Act)
• NIS2 (Network and Information Systems 2)
• PRA (Prudential Regulation Authority)
• PCI DSS (Payment Card Industry Data Security Standard)
• ISO 27001 (International Organisation for Standardisation 27001)

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Connect with your host James Rees

Hello, I am James Rees, the host of the Razorwire podcast. This podcast brings you insights from leading cyber security professionals who dedicate their careers to making a hacker’s life that much more difficult.

Our guests bring you experience and expertise from a range of disciplines and from different career stages. We give you various viewpoints for improving your cyber security – from seasoned professionals with years of experience, triumphs and lessons learned under their belt, to those in relatively early stages of their careers offering fresh eyes and new insights.

With new episodes every other Wednesday, Razorwire is a podcast for cyber security enthusiasts and professionals providing insights, news and fresh ideas on protecting your organisation from hackers.

For more information about us or if you have any questions you would like us to discuss email [e-mail].

If you need consultation, visit www.razorthorn.com, We give our clients a personalised, integrated approach to information security, driven by our belief in quality and discretion.

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This podcast uses the following third-party services for analysis:
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